USDC Stablecoin Exceeds $50 Billion Market Value But Can It Overtake Tether?
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Bitcoin Price Pull Back - Whale Clusters Increasing Their Holdings.
2021-07-05 | Eddy Morgan
Whales became sellers within the subsequent months, taking the wind out of the Bull Run, and by early May, their bitcoin stash had dropped by 8% to 4.17 Mln BTC.
Bitcoin mostly remained coiled within the range of $50k to $60k within that period, barring a quick spike to a record high of $64,801 USD in mid-April.
The price action highlighted the lack of smaller investors to undergo the rich lifting and signaled the potential for a notable price correction. Bitcoin fell by 35% earlier in May, hitting lows near $30k, and dipped further to $29,031 USD in June, per CoinMarketCap data.
The latest uptick within the whale balance suggests rock bottom may have already been touched.
The cryptocurrency is trading near $35.5k at the reporting time, representing a +2.3% gain for the day.
